Allocation + ADM?
06-24-2021, 03:50 PM
#1366
06-24-2021, 03:54 PM
#1367
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06-24-2021, 04:00 PM
#1368
what ? You weren’t in Dogecoin and perfectly timed your exit like this guy ?
https://markets.businessinsider.com/...1-5-1030410752
small fry ;-)
https://markets.businessinsider.com/...1-5-1030410752
small fry ;-)
06-24-2021, 04:04 PM
#1369
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Forget the $10,000,000.......where the hell can I get 9% on my savings?? Not asking for a friend.
06-24-2021, 04:11 PM
#1370
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Pookiemalibu - How about a really nice 3-4K sq. ft. home and a Porsche? - Hearse's don't have luggage straps!
Last edited by 17bhub; 06-24-2021 at 04:12 PM.
06-24-2021, 04:14 PM
#1371
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06-24-2021, 04:16 PM
#1372
06-24-2021, 05:33 PM
#1373
Oh, by bank you didn't mean bank. Got it. My bad.
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06-24-2021, 07:08 PM
#1374
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Originally Posted by Archimedes
Oh, by bank you didn't mean bank. Got it. My bad.
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Norcalgt3 (06-24-2021)
06-24-2021, 10:19 PM
#1375
06-24-2021, 10:21 PM
#1376
06-24-2021, 10:39 PM
#1377
One down with three more by the end of the year. I added additional legal protection by "renting" my cars from the LLC called Montana Porsche Rentals. I have a rental contract etc. I'm just a joe smo renting a car from a company in MT but live in LA. I just happen to own the company also. No sales taxes and no annual inspections.
06-24-2021, 10:51 PM
#1378
I would say that would be the exception rather than the rule.
Most people making 300k a year generally don’t have a high net worth and a 200k car that is likely being financed would be more than 10% of that person’s gross monthly income.
And I would think it would be safe to assume the GT car is not the only car in the garage...
A good rule to follow is keeping all vehicle expenses under 10% of your gross earnings (I prefer keeping this under 5% of net). This applies to single, married, kids, etc.
I’m definitely not bashing anyone that make ~300k. That’s a good salary and they should be proud of it. It’s just not a salary one typically is recommended to own a vehicle in the price point.
However, you could also make the argument that the GT cars are different because they are unlikely to depreciate much, but I would still caution using speculation to justify a potentially bad financial decision.
Most people making 300k a year generally don’t have a high net worth and a 200k car that is likely being financed would be more than 10% of that person’s gross monthly income.
And I would think it would be safe to assume the GT car is not the only car in the garage...
A good rule to follow is keeping all vehicle expenses under 10% of your gross earnings (I prefer keeping this under 5% of net). This applies to single, married, kids, etc.
I’m definitely not bashing anyone that make ~300k. That’s a good salary and they should be proud of it. It’s just not a salary one typically is recommended to own a vehicle in the price point.
However, you could also make the argument that the GT cars are different because they are unlikely to depreciate much, but I would still caution using speculation to justify a potentially bad financial decision.
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06-24-2021, 10:54 PM
#1379
You don't live here. 300k is not "dirt poor" in SF or NYC. Especially when the median family in SF and NYC makes under six figures.
06-24-2021, 11:01 PM
#1380
He's pulling that completely out of is his small intestine. While $300K isn't "f*ck you" money it's still a sizable chunk of change if you economize. In SF you may have to live in Oakland, but you can still easily afford a GT3. The payment DEF isn't 10% of their gross income. In NYC you may have to move to Jersey, but you can still drive that GT3 to your law firm in the city. In SoFla, you can work in Miami but live in parts of Broward that are equally nice for 1/3 of the price of a SoBe condo...although, owning a condo on/near SoBe may not be desirable after today's events. Too soon? Hope everyone is safe though seriously.
In any case, dirt poor isn't $300K, plenty of people making $30K would be happy to argue this point with him. Maybe he's a millionaire and 300 racks is a mere pittance to him, but to me that's a pretty darn good take home.
Last edited by pookiemalibu; 06-24-2021 at 11:12 PM.
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